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This is the final article in a series describing key provisions of the SECURE Act, with a focus on provisions unique to defined benefit plans. With the recent enactment of the CARES Act that President Trump signed into law on March 27, 2020, it is understandable that employers are not focused on the numerous changes implemented by the SECURE Act.

However, some of its more immediate changes require employers to modify certain aspects of plan administration (and potentially financial planning decisions) to align with the Act's requirements.

Some of the changes under the SECURE Act became effective immediately on December 20, 2019, while others became effective in plan or tax years beginning on or after January 1, 2020.  The Act provides for a remedial plan amendment period that does not end until the last day of the 2022 plan year (the 2024 plan year for governmental plans).  Therefore, employers generally have sufficient time to amend plan documents to comply with any required or optional changes. And they need to understand these changes to prepare themselves for the resulting effects.